China Projects 2015 Budget Deficit of 1.62 Trillion Yuan

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

China Lowers Growth Target to About 7%

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Mark Magnier BEIJING--China lowered its economic growth forecast to about 7% this year at the opening of the country's biggest political event of the year, ushering in what leaders have dubbed a "new normal" of slower growth in the ...

Brazil Central Bank Raises Benchmark Selic Rate

TODAY: March 5, 2015 PUB DATE: March 5, 2015

SÃO PAULO--Brazil's central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil. The statement announcing the increase, which ...

Australia Report Backs Case for Tough Budget Measures

TODAY: March 5, 2015 PUB DATE: March 5, 2015

CANBERRA, Australia--Australia's conservative government has begun a fight to repair its tarnished popularity and win public backing for unpopular budget reform, warning voters on Thursday that without change the slowing economy was no longer able to support generous social spending. ...

RBA's Lowe Says Global Easings Affecting Local Rates

TODAY: March 5, 2015 PUB DATE: March 5, 2015

SYDNEY--Aggressive monetary easings and currency devaluations by the world's central banks are having a big impact on the setting of interest rates in Australia, while keeping the local currency artificially high, the country's central bank said. "The scale of global ...

China Plans to Lift Price Controls on Drugs

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China plans to lift price controls for the pharmaceutical market, it said in a work report on Thursday. The report released on the eve of China's annual gathering of lawmakers, the National People's Congress, didn't disclose details or a timeline. ...

China Premier: To Cut Energy Intensity by More Than 3.1% in 2015

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Chuin-Wei Yap and Rose Yu BEIJING--China set a goal of reducing its energy intensity by more than 3.1% for 2015, Premier Li Keqiang said in a report to the annual legislative National People's Congress on Thursday. China exceeded its ...

China Projects 2015 Budget Deficit of $258.5 Billion

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

Investors Hold Fire Ahead of ECB Meeting

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Josie Cox European markets adopted a holding pattern in early trade Thursday, ahead of a key European Central Bank meeting at which policy makers are expected to provide details of an asset-purchase program worth up to EUR1 trillion ($1.108 ...

German Manufacturing Orders Down Sharply -- Update

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Todd Buell FRANKFURT--German manufacturing orders fell sharply at the start of the year, nearly wiping out the previous month's gains, data from the country's economy ministry showed Thursday. Still, the figures don't change the prospects for German factories, as ...

CITIC, KKR Make Formal Offer to Buy Shares of United Envirotech

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By P.R. Venkat SINGAPORE--A unit of state-owned Chinese firm Citic Ltd. and U.S. private-equity firm KKR & Co. Thursday made a formal offer to buy a Singapore wastewater-treatment company in a deal valuing the company at 1.9 billion Singapore dollars ...

Malaysia Central Bank Holds Benchmark Rate Steady at 3.25%

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Jason Ng KUALA LUMPUR--Malaysia's central bank Thursday kept its overnight policy rate unchanged as domestic demand continues to drive economic growth while inflationary pressure remains subdued. The Southeast Asian country has kept its benchmark rate steady at 3.25% since ...

AbbVie to Buy Pharmacyclics in $21 Billion Deal

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Jonathan D. Rockoff And Peter Loftus AbbVie Inc. said late Wednesday it will buy cancer biotech Pharmacyclics Inc. in a $21 billion deal that returns the Chicago drug company to deal-making after backing away from a big tax-lowering takeover ...

E-books Ruled Services, Not Goods in EU Tax Case

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Valentina Pop BRUSSELS--Electronic books cannot benefit from the same reduced rate of value-added tax as paper books, the top court of the European Union ruled on Thursday. Since 2012, France has applied a 5.5% VAT rate and Luxembourg a ...

French 4Q Jobless Rate 10.4% Vs 3Q's 10.3%

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Stacy Meichtry PARIS--The French jobless rate rose to 10.4% in the fourth quarter of 2014 from 10.3% in the third quarter, French national statistics agency Insee said Thursday. The figure includes data from continental France and overseas districts. Excluding ...

Draghi Comments Weigh on Euro -- 3rd Update

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Josie Cox Mario Draghi ruffled the euro and local debt markets Thursday in outlining the parameters of the European Central Bank's bond-buying program. After a brief surge, the euro weakened slightly against the dollar, hitting a new 11-year low ...

Euro Lifted Against Dollar by Draghi Comments -- 2nd Update

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Josie Cox The euro rose to a day's high against the dollar Thursday, after European Central Bank President Mario Draghi said the region's economic recovery would likely strengthen and broaden this year. The euro, which earlier in the session ...

Russia Annual Consumer Inflation Accelerates Again in February

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Andrey Ostroukh MOSCOW--Russia's annual consumer inflation accelerated further in February, exceeding the central bank's key rate, data showed Thursday. The Federal Statistics Service said consumer prices rose by 16.7% on the year in February after rising 15% in January. ...